102.9 Hot Tomato sold to Grant Broadcasters
GOLD COAST radio station 102.9 Hot Tomato has announced the sale of its licence and business to a major national radio network.
Gold Coast
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GOLD COAST radio station 102.9 Hot Tomato has announced the sale of its licence and business to a major national radio network.
Grant Broadcasters Pty Ltd who own a portfolio of stations from Brisbane’s western Corridor right up to Cairns are set to finalise the settlement to purchase the local station for 30 November.
The company established in 1942, is a family owned and operated group with a portfolio of 52 commercial radio station licences across the country.
Hot Tomato Broadcasting, also a family owned and operated company, was established in 2002 and first went to air August 1 2003.
The licence was originally purchased at a federal government auction.
Alison Cameron, Grant Broadcasters’ newly appointed CEO, stated said they pleased with the new addition to the network.
“We are thrilled to welcome Hot Tomato to the Grant Broadcasters family,” he said.
“The station’s ethos of live and local fits firmly into the values of our company and our other local radio stations. The Hot Tomato team has done an outstanding job in being the leading voice of the local community on the Gold Coast.”
Hot Tomato executive chairman Hans Torv said the cultural fit between the two companies was right.
“We have been approached by different groups a number of times about selling the business, and after consideration, the board implemented an expression of interest campaign,” he said.
“It was also time for us to either scale up or move on. The cultural fit with Grants’ was particularly important; they are genuine radio people, as are all the Hot Tomato team.
“This presents great opportunities for both the business and the terrific staff who have made Hot Tomato the success it is today.”
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